Eastern Bank Lowers stake in Chubb Ltd (CB)

Chubb Ltd (CB) : Eastern Bank reduced its stake in Chubb Ltd by 0.62% during the most recent quarter end. The investment management company now holds a total of 147,265 shares of Chubb Ltd which is valued at $19,039,892 after selling 921 shares in Chubb Ltd , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Chubb Ltd makes up approximately 1.49% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Barometer Capital Management reduced its stake in CB by selling 16,400 shares or 8.97% in the most recent quarter. The Hedge Fund company now holds 166,400 shares of CB which is valued at $21,513,856. Chubb Ltd makes up approx 2.11% of Barometer Capital Management’s portfolio.Benin Management Corp boosted its stake in CB in the latest quarter, The investment management firm added 40 additional shares and now holds a total of 2,001 shares of Chubb Ltd which is valued at $259,130. Chubb Ltd makes up approx 0.13% of Benin Management Corp’s portfolio. Davenport Co added CB to its portfolio by purchasing 1,650 company shares during the most recent quarter which is valued at $213,675.

Chubb Ltd closed down -0.28 points or -0.22% at $129.29 with 8,96,606 shares getting traded on Monday. Post opening the session at $129.49, the shares hit an intraday low of $129.16 and an intraday high of $129.98 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Chubb Ltd reported $2.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 4, 2016. Analyst had a consensus of $2.17. The company had revenue of $5995.00 million for the quarter, compared to analysts expectations of $6381.25 million. The company’s revenue was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS.

Many Wall Street Analysts have commented on Chubb Ltd. Chubb Ltd was Downgraded by Atlantic Equities to ” Underweight” on Jun 16, 2016.

Chubb Ltd formerly ACE Ltd is a Switzerland-based insurance and reinsurance company. The Company offers commercial and personal property and casualty insurance personal accident and supplemental health insurance travel accident insurance specialty coverage insurances recreational marine and aviation insurance agricultural insurance as well as reinsurance and life insurance. It mainly serves multinational companies small and medium-sized enterprises as well as high net worth individuals. The Company maintains executive offices in Zurich New York and London among others and is present in Latin America North America Asia Europe and Africa. It came into being from a merger of ACE Ltd and Chubb Corp.

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